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Central bank digital currencies will complement crypto, not compete
- Wednesday | 16th June, 2021
(Reuters) – Central bank digital currencies will complement cryptocurrencies rather than competing with them despite not being structurally different from their country’s fiat currencies, strategists and fund managers said. Central bank digital currencies (CBDCs) “are structurally no different than fiat, and they are very much complementary to crypto, not competitive,” Meltem Demirors, chief strategy officer at CoinShares, Europe’s largest digital asset investment firm managing $5 billion. The interview was part of a series on digital currencies run on the Reuters Global Markets Forum over the past week. Countries with less mature financial systems will be able to use CBDCs as more efficient payment and storage mechanisms, said Georgia Quinn, general counsel of digital asset bank and custodian Anchorage Digital. Graphic: Central bank digital currencies across the world.
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